Short love for pharm industry: billionaire Roman Avdeev about the sale of Veropharm

The American pharmaceutical company Abbott announced its intention to buy Veropharm drug manufacturer. The main owner of Veropharm, billionaire Roman Avdeev, told Forbes about the deal.
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One of the world's largest drug manufacturers, the Abbott US, is going to buy Russian pharmaceutical manufacturers "Veropharm", 82% owned by Roman Avdeev 68, the largest co-owner of Moscow Credit Bank (ICB). The company "Gardenhills" through which Avdeev has "Veropharm" made an offer to minority shareholders and is trying to increase its stake to 99.9%. If it succeeds and the transaction takes place, Avdeev can earn about $ 200 million.

A year ago, through the company "Gardenhills" you bought from "36.6" controlling interest "Veropharm". Did this mean that much zakreditovannaya "36.6" is trying to pay off debts to banks, mainly Sberbank?

I do not think such a category. [For me it] was a bargain, let alone how they solved their problem, it does not matter to me.

What for you was the purchase: a financial investment, which is expected to sharp growth of capitalization for subsequent sale, or if you were at the time more far-reaching plans?

Financial investment. The price was good, because"Veropharm" building a new plant [Pokrov], and I saw that after the launch of the plant will increase the company's value significantly.

"Veropharm" belongs to three large plants: Voronezh chemical-pharmaceutical factory, Belgorod enterprise for manufacturing finished dosage form and Pokrovsky factory finished dosage forms. "Veropharm" produces generic drugs, cancer drugs, and medical plasters.

But the plant is not yet completed ...

Not completed. But our position from the very beginning was: if someone wants to buy a future [cash] flows - although it seemed to me that in our conditions, it is not very realistic ...

So you did not believe that anything can happen so quickly?

Yes, I did not believe, so we did not put on sale. Interest in the sale was, but the position was such that when we construct when cash flow is, then we'll talk.

And it happened before ...

Nothing else happened.

But Abbott o their intentions have already announced.

Well, yes, they are going to purchase future flows.

I do not remember such a purchase. Yes, everything written about this, but it is not.

And share you have in the "36.6" is not?

No. It was not our ad and journalists, so [on this matter] without comment.

And shortly before the publication of your transaction for the purchase of "36.6" wrote news that 6.22% "Veropharm" acquired BIN.

No, Binbank owns stakes in "36.6".

Now in connection with the transaction with the Abbott, where you sell "Veropharm" your company "Gardenhills" announced an offer to buy shares from minority shareholders. How do you think this deal will be beneficial to minority shareholders?

I dont think about it. This should think the minority share holderss.

So you just spend a packaging company for sale, because 99% more profitable to sell ...

Of course, cheaper than 82%.

The market is saying that if the deal is closed, on the sale of "Veropharm" you can get about $ 200 million invested in the company in excess of the investment?

While the deal is not closed, that we are the "skin" divide? Maybe [happen].

That is, so much can happen.

Abbot has already announced its assessment. It probably can be considered.

And it will be the end of your relationship with the pharmaceutical market?

Yes, this kind of love is short.

Nevertheless, it turned out a mutual and win-win ...

It may happen when the deal will close.